American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Sees Significant Growth in Short Interest

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 4,030,000 shares, an increase of 9.2% from the August 31st total of 3,690,000 shares. Based on an average daily volume of 1,500,000 shares, the short-interest ratio is currently 2.7 days. Approximately 3.6% of the company’s stock are sold short.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wolfe Research upgraded shares of American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. Bank of America increased their target price on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.10.

Hedge Funds Weigh In On American Axle & Manufacturing

Several large investors have recently modified their holdings of AXL. nVerses Capital LLC purchased a new position in shares of American Axle & Manufacturing in the second quarter worth about $41,000. Quarry LP boosted its position in shares of American Axle & Manufacturing by 159.2% in the second quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 4,851 shares during the period. Headlands Technologies LLC bought a new stake in American Axle & Manufacturing during the second quarter valued at approximately $75,000. EntryPoint Capital LLC bought a new stake in American Axle & Manufacturing during the first quarter valued at approximately $76,000. Finally, QRG Capital Management Inc. lifted its position in American Axle & Manufacturing by 13.5% during the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after purchasing an additional 1,665 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Stock Performance

NYSE AXL traded down $0.10 during trading hours on Tuesday, reaching $6.08. 1,737,740 shares of the company were exchanged, compared to its average volume of 1,576,504. The stock has a market capitalization of $714.72 million, a P/E ratio of -86.86 and a beta of 1.95. The company has a quick ratio of 1.30, a current ratio of 1.68 and a debt-to-equity ratio of 4.42. The business’s 50 day simple moving average is $6.33 and its 200-day simple moving average is $6.95. American Axle & Manufacturing has a 1 year low of $5.43 and a 1 year high of $8.99.

American Axle & Manufacturing (NYSE:AXL) last posted its earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.08. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.59 billion. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. On average, equities research analysts expect that American Axle & Manufacturing will post 0.34 earnings per share for the current year.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.